Automotive reconditioning company Dent Wizard International has promoted a new regional business development manager in the Mid-South area. Announced Wednesday, Scott Stoner has been added to the company’s team as its Mid-South regional business development manager, and will work from his office in St. Louis. Stoner will be responsible for managing and expanding Dent Wizard’s […] [Read More]

Last week in the lanes didn’t bring any surprises as far as price movement was concerned. According to the latest Black Book Market Report, auctions saw relatively stable declines in values across the vehicle segments the company tracks. Overall, car prices dropped by an average of 0.42 percent or $47, while trucks saw a similar […] [Read More]

For the first time in 2015, monthly auction volume was down on a year-over-year basis. That’s according to the latest Economic Dashboard from the National Auto Auction Association released Monday. Citing AuctionNet data, the report indicates that August auction volume was down 2.0 percent against comparable weeks of 2014. However, year-to-date volume is still up […] [Read More]

Dealers in the Carolinas and Florida now have another Web-based dealer-to-dealer auction platform to choose from. Toronto-based dealer-to-dealer auction provider TradeRev announced Monday the company is expanding into these areas. Since KAR Auction Services business unit ADESA acquired a 50-percent stake in TradeRev last August, the company has been planning expansion into the U.S. TradeRev […] [Read More]

Wholesale prices fell by almost 2 percent on a monthly basis in August, and depreciation is expected to ramp up even more this month. According to the latest Guidelines report from NADA Used Car Guide, prices fell at auction by 1.9 percent last month. And looking forward to the end of September, NADA UCG forecasts […] [Read More]

Prices in the lanes for prime used vehicles saw depreciation slow even further in August. According to the latest Blue Book Market Report from Kelley Blue Book, prices for 1- to 3-year-old used vehicles held their values better last month than movement seen earlier this summer. The average vehicle value to younger used vehicles declined […] [Read More]

The ServNet Auction Group has brought in a new member: Akron Auto Auction. Announcing the new addition, ServNet president Patty Stanley said: “It continues to be our goal to identify the best independent auto auctions in markets not currently covered by one of our ServNet member auctions, and we are delighted to announce that Akron Auto […] [Read More]

Following KAR Auction Services’ announcement earlier this year that it planned on opening an auction facility in the Chicago area, the company said Friday that it broke new ground for its future ADESA Chicago location. The 65-acre plot is located in Hoffman Estates, Ill., and the company hopes to open the facility in spring of 2016. In […] [Read More]

The effects of increased supply are starting to become more evident in the wholesale market. Commenting on the first year-over-year decline in used-car prices in a year, ADESA’s Tom Kontos said in his latest Kontos Kommentary report:  “We now see a clearer picture of the downward pressure that supply growth is putting on prices.” The […] [Read More]

The TPC Management Co. put three more sessions in the books this summer for its Auction Academy aimed at providing continued education for auction industry professionals. The academy will host its next and final event for 2015 as a joint-class session in Detroit this fall. The first of the three summer sessions was hosted in […] [Read More]